Ark Invest Buys $5M More Bullish Shares as Stock Drops 3%

CaTLDR

• Ark Invest purchased about $5 million worth of Bullish shares across three ETFs on Thursday.
• The investment firm has continued to increase its Bullish position over recent trading sessions.
• Bullish stock fell 2.73% on Thursday and has declined over the past week and month.
• The company reported a wider net loss of $604.9 million in its latest quarterly results.
• Bullish recorded higher adjusted revenue which rose to $92.8 million year over year.

Ark Invest purchased about $5 million worth of Bullish shares on Thursday across three ETFs. The buying came as Bullish stock fell 2.73% to $35.96. Ark Invest has increased its position in the crypto-linked firm over several trading sessions.

Ark Invest Expands Bullish Holdings Despite Price Decline

Cathie wood’s Ark Invest acquired 139,117 Bullish shares through its ARKK, ARKW, and ARKF exchange-traded funds. The purchases were disclosed in its daily trading report.

The investment firm added to earlier purchases made earlier in the week. On Monday and Tuesday, Ark Invest bought about $4.4 million in Bullish shares.

Bullish stock has faced recent selling pressure in the market. Shares dropped 8.9% over the past five trading days.

The stock has also declined 14.2% over the past month. The recent dip followed the company’s latest quarterly earnings report.

Bullish reported a net loss of $604.9 million for the first quarter. The loss nearly doubled compared to the same period last year.

However, the company recorded higher adjusted revenue during the quarter. Revenue rose to $92.8 million from $62.4 million a year earlier.

Bullish Earnings and Expansion Strategy

Bullish recently announced a $4.2 billion acquisition of Equiniti. The company said the deal aims to support long-term growth.

CEO Tom Farley outlined the firm’s strategic direction in a recent statement. He highlighted infrastructure needs for institutional crypto adoption.

“Broad adoption at institutional scale requires three things,” Farley said. He cited tokenization services, a unified ledger, and strong issuer relationships.

Bullish entered public markets in August 2025 through a stock offering. The company priced 30 million shares at $37 each.

Since listing, the stock has traded below its initial offering price. Thursday’s closing price remained below that level.

Bullish also maintains exposure to the crypto market through Bitcoin holdings. The company holds about 24,300 BTC, according to public data.

This places Bullish among the largest corporate Bitcoin holders. The firm ranks sixth globally in corporate BTC ownership.

Ark Invest’s continued buying reflects ongoing activity in crypto-related equities. The firm remains active across blockchain and fintech-focused ETFs.

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